"On behalf of East West Bank, I applaud BayaniPay's progress in using our digital banking technology to provide omnichannel banking as a service to underserved customers. This means that Bayani Pay customers can enjoy the same quality of service, whether they're banking with their mobile devices or transacting at their local East West Bank branch." ~Parker Shi, Executive Vice President and Chief Operating Officer of East West Bank
Talino Venture Labs x BayaniPay's Partnership with BDO Media Gathering. Delivering a comprehensive infrastructure for finance between the US and the Philippines that lowers costs, increases convenience, and adds security.
Talino Venture Labs, an award-winning inclusive platform for global banking, announced BayaniPay’s partnership with BDO, the country’s largest bank, and the launch of its new services, which will be powered by BDO Bills Pay, the largest direct payment service from the US to the Philippines.
ππππππ ππππ‘π’ππ πΏππ’π πΆπΈπ Mr. Winston Damarillo grace the event to talk about the partnership as well as their new products and services they will launch in the market. Also present at the event are πππ«π₯π¨ πππ³ππ«ππ§π¨, π»πππ ππ πΆππ h ππππππππππ‘ ππππ£ππππ ππ‘ π΅π·π πππππππ, and πππ§π’π ππ₯π¨π«π’π, π
ππππ‘π‘ππππ π»πππ ππ‘ π΅π·π πππππππ.
πππ²ππ§π’πππ² has raised $4.5 million in seed finding from East West Bank, Wavemaker Partners, and Talino Venture Labs to make global banking available to all global professionals
Together with πππ ππ§π’πππ§π€, BayaniPay will bring new and exciting financial solutions to Filipino ericans.
Earlier this year, BayaniPay contracted with East West Bank, the largest independent bank headquartered in Southern California, to offer Filipino American customers banking services, including a Federal Deposit Insurance Corporation (FDIC) insured checking account. East West Bank joins BDO Unibank, the Philippines' largest bank; Asian Journal, one of the leaders in the Asian American media industry; and Seafood City, the largest Filipino-owned supermarket chain in the U.S., in BayaniPay's roster of industry-leading collaborators.
This collaboration positions BayaniPay as the first cross-border, digital financial service for the Filipino American community, which is 4.2 million strong and accounts for $146 billion or 14.4% of the Asian American market in the United States: a segment that has been previously underserved by traditional banks and other financial institutions.
BayaniPay offers easy, convenient, and low cost cross-border financial services from the United States to the Philippines. Its customers enjoy a host of benefits from its feature-rich platform, including access to a digital checking account, a debit card that maximizes spending power, and zero fee remittance and market-leading forex rates for Filipino Americans who are sending money home.
In cooperation with BDO Unibank, BayaniPay will deliver more financial solutions to Filipinos in the U.S. soon.
BayaniPay is collaborating with BDO Unibank to enable its users in the U.S. to directly pay services in the Philippines through paycode technologies. Local businesses and services can simply provide Filipino American customers paycodes that they can use for easy and convenient cross-border payment of bills, tuition and school fees, medical expenses, and even real estate.
By working together with Bayani Pay, BDO Unibank continues to find ways to provide convenience to global professionals.
Breaking ceilings in the digital banking landscape
Within its first three months in the market, BayaniPay disrupted the digital remittance industry by offering, through BDO Unibank, zero fees and market-leading exchange rates. Its neobank expansion allows customers to open a digital bank account with a Visa debit card in the United States through East West Bank-enabling faster, frictionless cross-border payments and rewards on customer transactions.
Since announcing its expansion, BayaniPay has gained over 7,000 users and its work in disrupting the global banking landscape has caught the attention of many digital publications, including Forbes and American Banker.
"We are excited about how quickly BayaniPay has grown since we first launched. Our ongoing efforts are driven by the desire to eliminate the financial hardships of new immigrants and minority communities." ~Winston Damarillo, BayaniPay CEO
The fresh capital from East West Bank and Wavemaker Partners will allow BayaniPay to expand the technology team as the company scales its product lineup and expands into more geographies.
"Streamlining cross border payment systems have become more urgent than ever as remittances grow in scale from overseas workers. Unfortunately, even in this day and age, existing remittance methods remain painful and expensive for the average remitter. BayaniPay is addressing this pain point with their suite of payment solutions that simplifies the various types of remittances. Whether the need is peer-to-peer, consumer-to-business or business-to-business, BayaniPay has created intuitive solutions to make this payment journey a simple and cost effective exercise," ~Eric Manlunas, Founder and Managing Partner of Wavemaker Partners
BayaniPay is a fintech company, not a bank. U.S. banking products and services are offered through East West Bank, Member FDIC.
For additional media inquiries and investor relations, please contact:
Talino Venture Labs
Raphael John Oriel / Ria Monica Valdez
Corporate Development
roriel@talinolabs.com
www.talinolabs.com
Raphael John Oriel / Ria Monica Valdez
Corporate Development
roriel@talinolabs.com
www.talinolabs.com
For more information, visit bayanipay.com.
About BayaniPay
BayaniPay's mission is to use technology to break down the borders in banking and level the playing field for all global professionals. Based in Los Angeles, its mobile-first service empowers global professionals working abroad to take financial care of their families and communities back in their home countries. BayaniPay Inc. is a collaboration among Talino Venture Labs, The Asian Journal, East West Bank, and Wavemaker Partners, and is the authorized agent of BDO Unibank, the Philippines' largest bank.
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